Walmart’s soaring online orders may end without more US stimulus cheques
The retailer’s e-commerce sales rose 97% in the quarter due to the pandemic, its revamped website and a new partnership with Shopify
18 August 2020 - 17:52
New York — Walmart has benefited from soaring online orders and a market-leading grocery business through the pandemic, but with federal stimulus cheques no longer buoying consumer spending, tougher times could lie ahead.
The retailer’s comparable sales growth slowed in July as the impact of the government relief programme waned, according to CFO Brett Biggs. A consumer survey from analysts at Stifel found that three out of four Americans have already spent a chunk of their stimulus cheques...
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